Brief: Archer Limited Q2 EBITDA Before Exceptional Items At $20.9 Mln

Archer

12/08/2022 06:34

Aug 12 (Reuters) - Archer Ltd  ARCHA.OL :
    * ARCHER LIMITED: SECOND QUARTER AND FIRST HALF 2022 RESULTS
    * Q2 REVENUE OF $247 MILLION
    * Q2 EBITDA BEFORE EXCEPTIONAL ITEMS OF $20.9 MILLION
    * WE EXPECT A STRONG SECOND HALF OF YEAR WITH EBITDA GROWTH
ABOVE
35% AND CONFIRM OUR PREVIOUS GUIDANCE FOR FULL YEAR
    * LOOKING BEYOND 2022, WE REMAIN OPTIMISTIC AS TO MARKET
ACTIVITY
AND FUNDAMENTALS FOR ARCHER
    * WE BELIEVE DEMAND RECOVERY AND FOCUS ON ENERGY SECURITY
AND
DIVERSIFICATION WILL HAVE POSITIVE IMPLICATIONS FOR ENERGY
INVESTMENT OVER NEXT FEW YEARS
    * BASED ON OUR BACKLOG, OUR CLIENTS' ACTIVITY PLANS AND A
SUPPORTIVE MACRO ENVIRONMENT, WE SEE 2023 EBITDA WELL ABOVE 2022
LEVELS AND A CONTINUED STRENGTHENING OUTLOOK THEREAFTER

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